Hong Kong offers trade support

Calcutta, April 12: Hong Kong wants to act as a platform for Indian companies to grow business in China and Asean countries.

“We want Indian companies to come to Hong Kong. They can trade in China through us and promote products in Asean countries,” said Dannie Chiu, regional director, Southeast Asia and India, of the Hong Kong Trade Development Council.

The Hong Kong Trade Development Council, an international marketing arm for Hong Kong-based traders, manufacturers and service providers, is expanding its presence in India to tap the domestic market.

“A number of manufacturing units are trying to relocate from China to the Asean region. That is why we are setting up an office in Indonesia. We are also looking at relocating some of these units to India,” Chiu said.

While it has an office in Mumbai, it will inaugurate another one in Delhi in November.

The council is looking to promote trade in tea, fresh food, basmati rice and textiles from India.

“Not just jewellery, but rice, sea food, fresh produce and textiles have great potential for trade in Hong Kong. India is also one of the best producers of black tea,” Chiu said.

She was speaking yesterday on the sidelines of a seminar on expanding business with China and international markets via Hong Kong, jointly organised by the Hong Kong Trade Development Council and the Indian Chamber of Commerce.

Every year Hong Kong imports close to 5,800 tonnes of black tea globally for consumption and re-export. It has the potential to consolidate its position as a tea trading hub. China produces only 6 per cent of black tea of the total production.

Hong Kong is a special administrative region under the People’s Republic of China and is already a significant trading partner of India. India is the fourth largest export market for Hong Kong. Exports to India have amounted to $8 billion in 2013-14.

India was Hong Kong’s seventh largest source of imports in the first three quarters of 2013-14. Indian exports to Hong Kong touched $8.8 billion during the period.